2017 Insurance Update

Construction Business Owner

Yet, even as equipment has become safer, highway fatalities are increasing at an alarming rate, and insurance companies have targeted distracted driving from cell phone use as a contributing factor

Ensuring Adequate Insurance Coverage

Green Industry Professionals

Tips on how to make sure your business and its equipment have the proper insurance coverages, without paying unnecessarily high premiums or putting yourself at risk

Trending Sources

Get Additional Insured Language Right

Construction Business Owner

General contractors, subcontractors and business owners risk substantial financial loss if they enter into contracts that are not supported by their insurance program.

Coming Soon: More Drone Insurance Options

ENR Construction

Contractors and engineers that are using drones soon may be able to buy standardized insurance coverage from a greater number of insurers. Business Management

Viewpoint: Making the Case for Firms to Buy Terrorism Insurance

ENR Construction

It’s only a matter of time before a terrorist again targets American infrastructure for a deadly act of violence

Insure Your Working Capital with Lines of Credit

ProCore

Small businesses have a tougher time than large businesses when it comes to working capital. Working capital usually comes from the owner’s initial investment and then, as the business grows, owners often continue relying on personal assets.

Insuring Unmanned Aircraft Exposures

Construction Business Owner

Drones are well suited for applications in construction, agriculture, energy, wireless communications, insurance, search and rescue, law enforcement, firefighting, real estate, photography and film

Prices Bottom, Terms Stretch on Contractors Pollution Liability Insurance

ENR Construction

Pollution insurance for contractors has never been cheaper, with prices down 50% in the past five years, say brokers and contractors

Arena Contractors Say Insurance Program Cost Savings Never Materialized

ENR Construction

Did the wrap-up insurance program add to costs instead of saving money

2016 Insurance Market Forecast

Construction Business Owner

Like many businesses, the insurance industry is cyclical in nature. The insurance cycle is important to business owners because it directly impacts insurance premiums.

Will AIA's Revised Contract Options Prompt More Insurance Coverage?

ENR Construction

In revising its standard form agreements, AIA calls out as optional additional coverage that could be added to builders' risk policies

Ensuring Adequate Insurance Coverage for Your Snow Division

Green Industry Professionals

5 insurance policies that are essential to snow removal contractors

Additional Insured Clauses Need Care

ENR Construction

A commonly used risk transfer mechanism has many complications

Risk 17

8 Questions to Help You Find the Right Cyber Insurance

Construction Business Owner

Cyber insurance generally covers the risks of loss from system breaches, data losses and other wrongful acts of rogue employees or outside hackers.

Risk 24

Easy Steps for Achieving Competitive Insurance Rates

Construction Business Owner

According to the American Institute of Architects (AIA), nonresidential building spending in 2015 was close to $360 billion, with forecasts estimating this number to hit $390 in 2016. The 2016 Dodge Construction Outlook also recently predicted a 9 percent gain in this sector.

The Basics of Insurance & Surety Bonds

Construction Business Owner

Therefore, many regulatory agencies require that contractors obtain both an insurance policy and a surety bond as part of the licensing process The work that contractors perform carries with it inherent risks that, if unaccounted for, have the potential to result in significant financial and physical harm to both the contractor and the party for whom the contractor is working.

How business owners can avoid the life insurance tax trap

Constructor Magazine

The easiest way for a successful business owner to create tax-free wealth is by the proper use of life insurance. read more. Blackman Taxes

Why Commercial Facility Maintenance Is Your Best Insurance Policy

Commercial Construction

The big take away from all of these services is that the right commercial facility maintenance can serve as the best insurance policy and save you thousands in facility maintenance costs. Being a national commercial construction general contractor can be an immensely rewarding profession.

Insurance Insights for Landscape and Lawn Care Contractors

Green Industry Professionals

How your services, clients and other factors affect your landscaping or lawn care business insurance needs

Maybe you are insurable

Constructor Magazine

Never can a stroke, cancer or a heart attack be anything but bad news. But hallelujah! Survive for five years and your life expectancy statistically is probably (wish “probably” was not necessary) the same as the general population of Americans

Arena Contractors Says Insurance Program Cost Savings Never Materialized

ENR Construction

Did the wrap-up insurance program add to costs instead of saving money

Insurance Market Update

Construction Business Owner

With the start of a new year, the construction insurance market is showing signs of ambivalence from most insurers. Insurance underwriters will likely focus on keeping existing clients happy (through pricing flexibility, broad coverages and service commitments), while simultaneously trying to grow business.

Professional liability insurance rates for architects and engineers expected to be stable in 2017

BD+C

Insurance premiums for architects and engineers professional liability stabilized in 2015 after three straight years of moderate increases. Insurers also plan to hold the line on rates this year, according to new survey by insurance broker Ames & Gough.

Plans 20

Two bills seek to expand flood insurance policy writing to private carriers

BD+C

AEC firms and their developer clients should be watching the progress of two bills wending their way through Congress that, if passed, could become important first steps toward opening the writing of flood insurance policies to private-sector carriers.

Las Vegas Arena Contractors Say Insurance Program Cost Savings Never Materialized

ENR Construction

Did the wrap-up insurance program add to costs instead of saving money

How to Reform Flood Insurance

ENR Construction

When FEMA’s National Flood Insurance Program (NFIP) expires next month, the pressure will be on Congress to reauthorize the program, ideally by adopting long-delayed reforms

Contractors Get Good Insurance & Use It!

Construction Law Monitor

More and more in my everyday practice I encounter issues with contractor general liability insurance (GL). Next, the most important and most often overlooked aspect is notifying the insurer when trouble starts. Business Matters Damages Insurance

Judge: Designer’s One-Sentence Claim Notice Allows Insurer to Deny Coverage

ENR Construction

Insurer Lexington rejected Ballinger's last-day claim notification that lacked required information

Construction Insurance Market a Mixed Bag in 2013

Construction Informer

Fewer insurance carriers are willing to extend endorsements to additional insureds on construction contracts, according to Marsh’s Annual US Insurance Market Report. ” Very often, insurers are negotiating [.]

2016 Insurance Trends

Construction Business Owner

The construction insurance market is responding positively to these efforts, rewarding owners and builders that are operating their businesses efficiently and managing their risks properly with lower insurance premiums, broader coverage and higher limits

Implement an Owner-Controlled Insurance Program

Construction Business Owner

In 2015, construction is projected to bounce back to a growth rate of 13 percent in commercial construction and 8 percent in residential construction, according to the FMI Second Quarter Report.

Pollution Liability Insurance Market Tilts Heavily to Buyer's Side

ENR Construction

Soft pricing and a surplus of competition that has squeezed the bottom line of carriers

Do Companies Understand What Pollution Insurance Covers?

ENR Construction

Construction industry could be hurt by non-renewal of terrorism insurance bill

BD+C

Congress’s failure to renew the Terrorism Risk Insurance Act (TRIA). The construction industry and real estate development could be hampered by the U.S. read more. Legislation Codes and Standards

Risk 29

California Contractors Need Workers Compensation Insurance, or else…

Construction Law Monitor

In one of JD’s tweets last week I discovered a very informative article by Matthew Hicks regarding Workers’ Compensation Insurance law and jurisprudence in California. The bottom line here is that all California contractors need to be sure to maintain proper and adequate workers compensation insurance. Just as Hicks points out in his well written-piece, contractors need to abide by and closely adhere to the requirements for Workers Compensation insurance.

Insurance-Related Phrases in Contracts That Can Cost You

ENR Construction

Here in this first part of a two-part series are some key phrases included in construction contracts that few people fully understand. Opinion

The Power of Wrap-Up Insurance

Construction Business Owner

More property owners are now inserting a clause in their construction contracts that could limit the competitiveness of small- and medium-sized businesses (SMBs): the requirement for wrap-up insurance.